OAK CREEK, WIS. — The Dickman Co./CORFAC International has arranged a 17,425-square-foot industrial lease in Oak Creek, approximately 14 miles south of Milwaukee. Schenker Inc. will lease the space located at 330 E. Mahn Court from Maggster LLC. Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Co. represented the landlord in the transaction, and Karl Wiedenman of CBRE represented the tenant.
MOORESVILLE, IND. — Mainstreet, a skilled nursing developer based in Indiana, and Trilogy Health Services, an operator based in Kentucky, have completed construction of The Springs of Mooresville, a 70-bed skilled nursing facility in Mooresville, a suburb of Indianapolis. Construction began in March 2015. The community is now open. The 48,034-square-foot building cost $12.9 million to develop.
PLAINFIELD, IND. — HSA Commercial Real Estate has arranged a 100,335-square-foot industrial lease in Plainfield, a southwestern suburb of Indianapolis. Kuehne + Nagel, a Switzerland-based global logistics service provider, will be expanding its lease at Gateway Industrial III, bringing the building to full occupancy. The 220,000-square-foot distribution center is located at 1025 S. Columbia Road. Kuehne + Nagel currently occupies 59,895 square feet at the facility. A partnership between HSA Commercial Real Estate and Great Point Investors LLC developed the building in 2014. HSA Commercial expects to break ground on a new 150,000-square-foot distribution center within the Gateway Business Park this summer. Located on a nine-acre site at the intersection of Columbia and Midfield roads, the proposed facility will feature 32-foot clear heights, 32 truck docks, four drive-in doors and parking for 156 vehicles. Terry Busch and John Hanley of CBRE represented the ownership in the lease transaction.
MUNDELEIN, ILL. — Associated Bank has provided a $6.7 million construction loan to Metro Storage Mundelein LLC for a self-storage facility in Mundelein, approximately 40 miles northwest of Chicago. Metro Self Storage, located at 1340 Butterfield Road, will be a 78,662-square-foot facility that features 828 climate-controlled units. Metro Self Storage, established in 1973, operates storage facilities in 12 states. Edward Notz of Associated Bank managed the loan.
URBANA, ILL. — The Wernke Team has arranged the sale of Lincoln Place Apartments, a 60-unit, 155-bed student housing community located in Urbana, for an undisclosed price. Lincoln Place Apartments purchased the property from Busboom Investments. Built in 1984, Lincoln Place Apartments encompasses approximately two acres and contains three three-story buildings. The community includes a mixture of one-, two- and three-bedroom apartments. Michael Wernke and Chris Hentschel of RESOURCE Commercial Real Estate, in conjunction with Colliers International, arranged the sale of the property.
WESTERVILLE, OHIO — Doster Construction Co. has been selected to build a 60,000-square-foot hospital in Westerville, approximately 15 miles northeast of Columbus. The new 60-bed hospital will replace an inpatient rehabilitation unit at Mount Carmel West. The hospital will help patients transition from the hospital to home after suffering from a stroke, brain injury, major orthopedic surgery or other major illness or injury. The new facility will be located at the intersection of Polaris Parkway and Cleveland Avenue. Doster Construction Co. is the general contractor. Gresham, Smith and Partners is the architect of record. The hospital will be jointly developed and operated by HealthSouth Corp. and Mount Carmel Health System.
CHICAGO — Mesa West Capital has provided a $210 million short-term first mortgage for the refinancing of the office and parking components of the John Hancock Center in Chicago. A partnership led by Chicago-based real estate investment firm Hearn Company received the financing that included $35 million of mezzanine debt placed with an institutional investor at closing. Hearn acquired the 894,000-square-foot office building and 710-car parking garage, located at 875 N. Michigan Ave., in 2013. Since acquiring the building, Hearn has invested in improvements such as a complete replacement of the mechanical systems, a full renovation of the entries and lobbies on Chestnut and Delaware streets, a new 13th floor lounge, fitness center and conference facility. The common areas and bathrooms on each floor were also upgraded. Mesa West’s five-year, non-recourse loan will be used to refinance the existing debt and for ongoing leasing and capital costs to stabilize the asset. The office component is currently 85 percent leased and anchored by Interpublic Group, a leading global marketing firm. John Parrett and Bill Howe of CBRE arranged the financing.
OVERLAND PARK, KAN. — Marcus & Millichap has brokered the $12.2 million sale of a 37,930-square-foot shopping center in Overland Park, a southern suburb of Kansas City. The sales price equates to $322 per square foot. Los Angeles-based Highpoint Capital Group LLC purchased the Southridge retail center, which was built in 2008 and 2009, from Carson Development, a local developer. The retail property is located 12090 Metcalf Ave. Southridge is shadow anchored by Costco.
GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has brokered the $12 million sale of 3.1 acres in downtown Grand Rapids that will serve as the future site of a 68-unit residential complex. The Woda Group LLC purchased the land located at 936 Front St. NW. Ryder Transportation Services, which sold the property, previously occupied a building on the land that is being demolished to make room for the housing project. Construction on Grand View Place is scheduled to start this summer. The housing development is expected to occupy two acres out of the 3.1-acre parcel. The remaining 1.1 acres will be used for a future mixed-use development. Stan Wisinski of NAI Wisinski of West Michigan represented The Woda Group in the transaction.
ELGIN, ILL. — An entity affiliated with the Midwest Industrial Funds has acquired a vacant 246,000-square-foot facility in Elgin, approximately 40 miles west of Chicago, for an undisclosed price. The building, located at 1600 Fleetwood Drive, is situated on 22 acres and features 26-foot clear heights, 10 docks and 22,000 square feet of office space. Stamar Packaging recently agreed to lease 187,000 square feet of the facility and is relocating its headquarters and warehouse from Addison. Frank Griffin and Dominick Carbonari of JLL represented the seller, a division of Philips Lighting, in the transaction. Michael Androwich Jr. of Lee & Associates represented Stamar Packaging.